Zale Corp. is undertaking a change in its top level management bracket. Its senior vice president, controller and chief accounting officer, Cindy Gordon has resigned effective June 30. She is being replaced by Jim Sullivan, the present vice president of financial reporting and compliance at Zale's. He will assume office from July 1.

The company has signed a separation and release agreement with Steve Larkin, its Executive Vice President, Chief Marketing and E-Commerce Officer, reports say. According to the agreement, Larkin would be entitled to $651,693 in severance pay, along with unpaid base salary, vacation pay or bonuses and other benefits.

Since the beginning of 2009, the company has seen a change in heads at the Chief Financial Officer position. Rodney Carter was temporarily replaced by Gordon. Following this, Matthew W. Appel was permanently hired as CFO effective June 15 and Gordon was to carry forward the portfolio of the company senior vice president and controller.